Fertility versus productivity: A model of growth with evolutionary equilibria

Arbeitspapier

We develop a quantitative model that is consistent with three principal building blocks of Unified Growth Theory: the break-out from economic stagnation, the buildup to the Industrial Revolution, and the onset of the fertility transition. Our analysis suggests that (i) the escape from the Malthusian trap was triggered by the demographic catastrophes in the aftermath of the Black Death, (ii), household investment in children ultimately raised wages despite an increasing population, and (iii) rising human capital, combined with the increasing elasticity of substitution between child quantity and quality, reduced target family size and contributed to the fertility transition.

Object Details

• Language: Englisch

References and Relationships

• Bibliographic citation: Series: Cardiff Economics Working Papers ; No. E2020/13

Classification and Topics

• Classification: Wirtschaft ; Macroeconomic Analyses of Economic Development ; Demographic Trends, Macroeconomic Effects, and Forecasts ; Economic History: Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations: Europe: Pre-1913
• Subject: Fertility Transition ; Industrial Revolution ; English Economy ; Economic Development

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Foreman-Peck, James S. ; Zhou, Peng
• Event: Veröffentlichung
• (who): Cardiff University, Cardiff Business School
• (where): Cardiff
• (when): 2020

Further information

• Handle: http://hdl.handle.net/10419/250323
• Last update: 10.03.2025, 11:41 AM CET